137T. Persons obliged to comply with Division and power of Authority to grant exemption or extension

The obligation to comply with this Division extends to all natural persons, whether resident in Singapore or not and whether citizens of Singapore or not, and to all entities, whether formed, constituted or carrying on business in Singapore or not.

This Division extends to acts done or omitted to be done outside Singapore.

The Authority may exempt any person or class of persons from any or all of the provisions of this Division.

The Authority may by written notice impose on a person exempted under subsection (3), or by regulations impose on a class of persons exempted under that subsection, such conditions or restrictions as the Authority thinks fit and the person or persons must comply with such conditions or restrictions.

Any person who contravenes any condition or restriction imposed under subsection (4) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 and, in the case of a continuing offence, to a further fine not exceeding $5,000 for every day or part of a day during which the offence continues after conviction.

The Authority may, on the application of a person required to give a notice under this Division, extend, or further extend, the time for giving the notice.